If Bitcoin skyrockets, how will it affect alt coin prices? - page 3.

gabmen

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Quote from: HeRetiK on July 12, 2017, 02:54:54 AM

Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

Indeed. And those of us who were expecting btc to surge up may need to reevaluate our predictions or we may end up unprepared for a long 2017. Though i'm not yet losing hope here. Anyways the current price is still way above btc's price at this time last year. Hat goes with my other alt investments which are now all below the entry point when i bought them

HeRetiK

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Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

ladydark

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Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

As usual,when bitcoin price rises,altcoins would start bleeding and their price would start falling.It would create panic among investors and they would immediately sell their altcoins to buy bitcoins which would further make altcoins price to fall more.Such a situation would only change when bitcoin price once again falls a little.

moviebuff777

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Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Sometimes the reason for a drop or rise in bitcoin is the same reason for a rise or fall in altcoins as well. But other times they can be completely independent of each other. For example if there is some positive news out about Ethereum, then that coin may rise in price relative to bitcoin. The same is true for any other coin. And even if they all drop or rise at the same time, the percentage change will not all be the same. You can't really predict altcoin performance based on bitcoin performance.

TravelMug

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Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Based on observation, bitcoin price rise equates to some altcoins going places as well. Yes, I'm assuming that it drags the price. However, I don't know what's the reason behind it.

Quote from: BigBoy89 on July 11, 2017, 05:26:53 PM

Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

Its too early to speculate what's the price of bitcoin after the activation. But I think it will dip a little then bounce back and the price moving up at the end of 2017. I don't think we need to wait after Christmas to see strong price.

passionsurf

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Quote from: sweetbet on July 11, 2017, 05:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.

code92

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Well its proportional,so yeah like the guys said,if btc skyrockets so will altcoins

BigBoy89

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Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

sweetbet

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This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

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